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Not Interested? A Trustee Lacks “Party In Interest” Standing To Move For An Extension Of The Nondischargeability Bar Date On Behalf Of Creditors, Stephen C. Behymer
Not Interested? A Trustee Lacks “Party In Interest” Standing To Move For An Extension Of The Nondischargeability Bar Date On Behalf Of Creditors, Stephen C. Behymer
Fordham Law Review
Chapter 7 bankruptcy is designed to provide a financially distressed debtor with a “fresh start.” Towards that end, an individual debtor’s debts are typically discharged during the case. A creditor has only a short window of time in which to object to the dischargeability of its claims. This bar date can only be extended for cause and upon the application of a “party in interest.” Occasionally, a trustee will move for such an extension on behalf of the creditors. There is a split, however, between the Fourth and Sixth Circuits regarding whether a trustee is a “party in interest” and, …
Sunbeam: A Ray Of Hope For Trademark Licensees, Ryan Gabay
Sunbeam: A Ray Of Hope For Trademark Licensees, Ryan Gabay
Fordham Law Review
In the 1985 decision Lubrizol Enterprises v. Richmond Metal Finishers, the Fourth Circuit established that a licensor’s rejection of an intellectual property license under § 365 of the U.S. Bankruptcy Code terminates the licensee’s right to continue using the license. Concerned about the detrimental effects that Lubrizol would have on technological development in the United States, Congress responded swiftly by enacting the Intellectual Property Licenses in Bankruptcy Act (IPLBA), which exempted certain forms of intellectual property, such as copyrights, patents, and trade secrets, from rejection under § 365 of the Code. Trademarks, however, are notably absent from Congress’s definition …